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I noticed that Bitcoin dropped below 74K this morning, losing about 0.89% over 24 hours. It's crazy how the market has swung between the weekend and now. On Friday, we were quite optimistic with the Fed maintaining an accommodative stance, and then boom, geopolitical tensions come back to the forefront and everything crashes.
What struck me was the massive liquidation we saw—almost 300 million in 24 hours with 85% on long positions. Bitcoin lost 122 million, Ethereum 96 million. Clearly, traders had taken very bullish positions before the weekend and got caught off guard. Ethereum is now below 2.35k dollars, Solana under 84 dollars, XRP below 1.36 dollars. That's a serious correction.
The market remains vulnerable because we had eight consecutive days of gains, so many positions were already below their stop-loss levels. Now, we need to see if we stabilize or if we continue testing support levels downward. Traders are facing real uncertainty this week.